Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
Business
Economy
S&P Global says Egypt non-oil businesses contract in November
Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
- Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November — the second lowest since June 2020.
- According to S&P Global, Egypt’s purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month
Economy
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
- The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
- The goverment hopes to start implementing the project in 2025, ending the first phase in 2033
Economy
Dubai ruler evinces support for global economic growth
Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
- He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
- More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions
Economy
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
- ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
- The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
- The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
- The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Business
ADNOC signs catering deals worth $272m
Four Abu Dhabi firms will provide services to ADNOC companies from 2022-27.
- More than 50 percent of the value from the four contracts will flow back into the UAE economy, as part of ADNOC’s In-Country Value (ICV) programme, ADNOC said.
- Royal Catering, Apex National Catering, National Corporation for Tourism & Hotels (NCT&H) and Sodexo Kelvin have been awarded the contracts.
Arts & Culture
650 artists from 62 nations seek to attend Tuwaiq Sculpture 2030 in Riyadh
Riyadh, Saudi Arabia--- Riyadh Art project will organize "Tuwaiq Sculpture 2030" from Jan 8 to Feb 10, 2023 under the theme...
- Riyadh Art, the organizer, is one of Riyadh's mega projects launched by the Saudi government in 2019 under the leadership of the Crown Prince Mohammad bin Salman.
- During the previous editions, more than 60 local and international sculptors participated in the event, which transforms the capital into an open art gallery.
Business
Abu Dhabi Airports, Bombardier to create aircraft hub in UAE
This represents Bombardier’s first full-service facility in UAE.
- The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
- This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
Business
Vietnamese firms look to benefit from Saudi Vision 2030 opportunities
Riyadh, Saudi Arabia--- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum on Tuesday evinced interest...
- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum.
- The trade between the two countries amounted to about SR8.2 billion in 2021.
Geostrategy
UAE, Saudi Arabia sign MoU for mutual recognition of maritime training
LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
- The move is in line to ensure the highest standards of maritime safety and within the outcomes of the Saudi-Emirati Coordination Council.
- This is as per the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978 and its amendments.
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
Company News
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Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
Arab world to be center for global change in 2024, says Russian intelligence chief
MOSCOW, RUSSIA - The chief of Russia’s foreign intelligence service, or SVR, believes the Arab world will take center stage...
Geostrategy
Sidra Medicine, GlobeMed Qatar sign pact on medical services
DOHA, QATAR – Sidra Medicine and GlobeMed Qatar have signed an agreement to offer eligible insured members of payers contracted...
Business
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Business
HPDC, HDC ink agreement
The aim is to stimulate the growth of the halal industry.
- The two companies will exchange information on industry-leading practices and successful models of halal ecosystems.
- The agreement will broaden the scope of collaboration by facilitating engagement with halal exporters and investors.
Business
ENEC, Kazatomprom ink pact
The move will ensure a secure supply of nuclear fuel.
- ENEC's global partnerships will support the continued rapid decarbonisation of the country's heavy and energy-intensive industries.
- This will create further clean energy sources while using the latest technologies and helping to deliver Net Zero by 2050.
Business
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG.QatarEnergy...
- QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
- The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.